TIAA-CREF Bond Plus Fund (Institutional)

TIBFX

Daily NAV

Day's Change

Portfolio Net Assets

Gross / Net Expense Ratio

Under the Fund’s expense reimbursement arrangements, the Fund’s investment adviser, Teachers Advisors, Inc., has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage and other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed 0.35% of average daily net assets for Institutional Class shares of the Fund.

30 DaySEC Yield

The fund's 30-day SEC yield is based on yield to maturity of a fund's investments over a 30-day period and not on the dividends paid by the fund, which may differ.

Overall Morningstar Rating

The Overall Morningstar Rating is based on risk-adjusted return, and is a weighted average of the applicable 3-, 5-, and 10-year Ratings.

Hypothetical Growth of $10,000

The chart illustrates the performance of a hypothetical $10,000 investment made on the date indicated. The total returns are not adjusted to reflect sales charges or the effects of taxation, but are adjusted to reflect actual ongoing expenses, and assume reinvestment of dividends and capital gains, net of all recurring costs.

12/31/2011 - 12/31/2014

3 Month

6 Month

1 Year

3 Years

5 Years

Since Inception

Portfolio Overview

Investment Strategy

Management Team

Video

Share Class

Institutional Class

Dividend Frequency

Monthly

Redemption Fee

--

Inception Date

03/31/2006

Ticker

TIBFX

CUSIP

886315506

The fund seeks a favorable long-term total return, primarily through high current income. It typically invests at least 80% of its assets in bonds. The fund's portfolio is divided into two segments. The first segment, which makes up at least 70% of the fund's assets, is invested in a broad range of investment-grade bonds and other high-quality fixed-income securities. The second segment, which will not exceed 30% of assets, is invested in fixed-income securities with special features in an effort to improve the fund's total return. Potential investments in this segment may include, but are not limited to, non-investment-grade securities, emerging market fixed-income securities and convertible and preferred securities. The fund may invest in fixed-income securities of any duration. It may also invest up to 20% of its assets in fixed-income securities of foreign issuers, including emerging markets.

As of 03/02/2015

Performance Returns

Average annual total return is a hypothetical rate of return that, if achieved annually, would have produced the same cumulative total return if performance had been constant over the entire period. Average annual total returns smooth out variation in performance; they are not the same as actual year-by-year results. Also, it is the average annual profit or loss realized by an investment at the end of a specified calendar period, stated as the percentage gained or lost per dollar invested.

As of 01/31/2015

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units or shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance results would have been lower. Since Inception performance shown is cumulative for funds that have less than one year of performance history. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

Portfolio Composition

Portfolio Composition provides details for the investments that constitute a particular fund.

Sector Weightings

As of 12/31/2014

% ofNet Assets

Corporate Bonds

30.00%

Mortgage-Backed Securities (Includes MPT & CMOS)

18.59%

Foreign Government And Corporate Bonds Denominated In U.S. Dollars

15.79%

U.S. Treasury Securities

12.08%

CMBS

6.40%

Bank Loan Obligations

4.66%

Asset-Backed Securities

4.22%

Municipal Bonds

4.22%

U.S. Agency Securities

0.78%

Short-Term Investments, Other Assets & Liabilities, Net

3.26%

Top 10 Holdings

The top 10 holdings are subject to change and may not be representative of the fund's current or future investments. The holdings listed only include the fund's long-term investments and may exclude any temporary cash investments and equity index products. The holdings listed should not be considered a recommendation to buy or sell a particular security.

1The Barclays U.S. Aggregate Bond Index measures the performance of the U.S. investment-grade, fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities. You cannot invest directly in this index.

Morningstar is an independent service that rates mutual funds and variable annuities.

For each fund/account with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's/account's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Where applicable, Morningstar's performance rankings are based on linked performance that considers the differences in expense ratios, while actual performance data shown does not reflect such differences.

The top 10 percent of funds/accounts in a category receive five stars, the next 22.5 percent receive four stars, and the next 35 percent receive three stars, the next 22.5 percent receive two stars and the bottom 10 percent receive one star. (Each share class is counted as a fraction of one fund/account within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar proprietary ratings on U.S.-domiciled funds/accounts reflect historical risk-adjusted performance, are subject to change every month. They are derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Please note, Morningstar now rates group variable annuities within the open-end mutual fund universe.

The information contained in these reports is the proprietary information of Morningstar, Inc., may not be copied or redistributed for any purpose and may only be used for non-commercial, personal purposes. Additionally, Morningstar, Inc. shall not be responsible for investment decisions, damages or other losses resulting from use of this information. Morningstar, Inc. has not granted consent for it to be considered or deemed an "expert" under the Securities Act of 1933.

TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Investment products, insurance and annuity products: are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

Key Differentiators

Seeks to deliver returns significantly above the benchmark through security selection, sector rotation and out-of-index holdings in which the Fund is permitted to invest, such as high-yield and emerging markets debt

Selection of individual securities determined through detailed, bottom-up company analysis, taking into account not only fundamentals, but also capital structure placement and relative value long the issuer’s credit curve

Experienced portfolio managers and senior investment professionals, including specialized credit and structured finance research teams, who are able to assess relative value within and cross sectors

Morningstar

A research company that rates the performance of Mutual Funds and Variable Annuities.

Morningstar Rating

OVERALL

OUT OF 913 FUNDS

3 YEAR

OUT OF 913 FUNDS

5 YEAR

OUT OF 808 FUNDS

10 YEAR

OUT OF 588 FUNDS

The Overall Morningstar Rating is based on risk-adjusted return, and is a weighted average of the applicable 3-, 5-, and 10-year Ratings.

Morningstar Category

Intermediate-Term Bond

Morningstar Risk Measures

RETURN VS. CATEGORY*+AVG

LOW

AVG

HIGH

As of 01/31/2015

*3 Year Average

Investment Risk

Investment risk is usually related to the performance of an investment—riskier investments offer potentially higher returns—but are more volatile in the short-term. Beta (past price fluctuations), R-Squared (performance against benchmark index), and Standard Deviation (past volatility) are all used to calculate the degree of risk associated with individual investments.

LOWERRISKHIGHERRISK

Level of risk is defined using the 3 Year Standard Deviation of the Investment.

This website is directed only to institutional investors. Past performance is not indicative of future results. The information on this website should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons.